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FTSE 250 movers: Renishaw lifted by upgrade; Kaz Minerals in the red

By Michele Maatouk

Date: Thursday 23 Jan 2020

FTSE 250 movers: Renishaw lifted by upgrade; Kaz Minerals in the red

(Sharecast News) - London's FTSE 250 was down 0.8% at 21,582.04 in afternoon trade on Thursday.
Kaz Minerals was knocked lower by a downgrade to 'hold' at VTB Capital.

Paypoint was weaker after it said the improvement in pre-tax profit for the year to the end of March 2020 will be "at a more modest rate" than previously expected.

John Laing retreated after the infrastructure company said that chief executive officer Olivier Brousse has resigned to take up a senior position at Veolia Group.

Transport operator Stagecoach was in the red as its stock went ex-dividend.

Bucking the trend, engineer Renishaw was sitting pretty at the top of the index after an upgrade to 'overweight' from 'equalweight' at Morgan Stanley, which hiked the price target to 4,500p from 2,850p.

"With a near-term inflection in Asia machine tool growth forecast, we believe Renishaw can deliver a stronger than consensus earnings print and drive valuation below long-term average levels by CY21. With 25% upside to our price target and a positive risk-reward skew, we move overweight," MS said.

PureTech Health was on the rise after the clinical stage biotech company said it had sold 2.1m shares of its affiliate Karuna Therapeutics for $200m. The company said it plans to use the cash to fund operations and advance its clinical stage, wholly-owned pipeline.



FTSE 250 - Risers

Renishaw (RSW) 3,758.00p 6.22%
Future (FUTR) 1,502.00p 3.44%
PureTech Health (PRTC) 303.00p 3.41%
Kainos Group (KNOS) 870.00p 2.11%
Syncona Limited NPV (SYNC) 227.50p 2.02%
Dunelm Group (DNLM) 1,143.00p 1.60%
Assura (AGR) 77.30p 1.44%
Spirent Communications (SPT) 233.50p 1.30%
Synthomer (SYNT) 343.00p 1.18%
Galliford Try (GFRD) 134.12p 1.16%

FTSE 250 - Fallers

Kaz Minerals (KAZ) 480.20p -6.97%
Ferrexpo (FXPO) 146.45p -5.69%
PayPoint (PAY) 995.00p -4.69%
Stagecoach Group (SGC) 145.70p -4.33%
Bakkavor Group (BAKK) 133.20p -4.31%
John Laing Group (JLG) 373.60p -3.56%
Cairn Energy (CNE) 179.40p -3.55%
888 Holdings (888) 142.60p -3.39%
RHI Magnesita N.V. (DI) (RHIM) 3,540.00p -3.28%
Senior (SNR) 159.90p -3.03%

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